A fundamental reorganization of the banking sector took place between 1990 and 1992. The NBP lost all its central planning functions, including holding the accounts of state enterprises, making transfers among them, crediting their operations, and exercising financial control of their activities. TheÍÍÍÍ NBP thus became only a central bank, and state enterprises competed with other businesses for the scarce credits available from commercial banks. In its new form, the NBP exercised a considerable degree of autonomy in monetary policy and performed the same functions as the central banks in West European countries or the Federal Reserve System in the United States.

Nevertheless, the entire Polish banking system remained inefficient in the early 1990s because of backward banking technology and a very serious shortage of trained personnel in all branches. Considerable technical and financial aid from the World Bank, the IMF, and the central banks of Western countries was expected to improve the situation eventually.

Data as of October 1992